Describe and explain the effects of market entry

student

Learning Goal: I’m working on a micro economics discussion question and need an explanation and answer to help me learn.

10.1 Learning Outcomes

1. Describe and explain the effects of market entry

2. Explore the effects of asymmetric information on the price, quality, and volume of a good sold in a market

3. List the conditions for equilibrium in monopolistic competition

4. Contrast monopolistic competition and perfect competition

5. Analyze the sources and consequences of market externalities

10.2 Action Required:

Reading

Read the following to prepare for this week:

Survey of Economics, Chapter 8: Market Entry. Monopolistic Competition and Oligopoly

Video:

Watch the following video(s), which you can access in the Weekly Media object or by clicking on the link(s) below: and answer the question.

MIT OpenCourseWare video lecture series, “Oligopoly” http://www.youtube.com/watch?v=e3Bsb1mELcc&list=SP61533C166E8B0028&index=17

10.3 Test your Knowledge (Question):

Q1 Refer the above video and discuss how cartel turns oligopolies into monopoly.

10.4 Instructions

Answer the question in test your knowledge section.
Post your answer in the discussion board

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